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MIS Asia - The Asia Pacific excluding Japan is expected to have the fastest growth in software revenue of all the regions in 2010, according to research firm Gartner.
The market for enterprise software in the Asia Pacific is estimated to reach US$22 billion in 2010, up 13 per cent from 2009 revenue of US$19.5 billion.
The region's five-year compound annual growth rate of 11.5 per cent fares better than 2.7 per cent in Western Europe.
Gartner said both enterprise application and infrastructure software will demonstrate a strong rebound in 2010, and this positive momentum is expected to continue through 2011.
"China and India continue to be the growth engine of the software market in the region and currently represent the largest and the fourth-largest software markets in the Asia Pacific," said Yanna Dharmasthira, research director at Gartner.
"This should continue due to China's fast-growing economy, sheer market potential, and fragmented and currently relatively low software penetration. India also has much local market potential, while the country's continuing integration with key global economies is generating software revenue growth in all key industries."
Australia and South Korea are the region's most mature software markets with most of the revenue coming from maintenance revenue streams. Currently, Australia and South Korea are the second and third-largest software markets in the Asia Pacific.